According to a new report published by Allied Market Research, titled, Weight Loss and Weight Management Diet Market by Product Type and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” the global weight loss and weight management diet market size was valued at $192.2 billion in 2019, and is projected reach $295.3 billion by 2027, registering a CAGR of 7.0% from 2021 to 2027
Weight loss and weight management diets helps to reduce or prevent unwanted weight gain. Low-calorie and low-sodium food & beverages, popularly known as better-for-you food & beverages, are increasingly consumed by consumers to reduce the overall calorie intake. Sweet potato, brown rice, oatmeal, whole wheat pasta, cream of hot rice cereal, and other healthy food products have gained prominence among consumers. Meal replacements, which comprise protein bars and protein shakes, are used as substitutes for regular meals. Dietary supplements are increasingly used by consumers to burn body fats and reduce weight.
The prevalence of obesity-related disorders such as diabetes and cardiovascular diseases has considerably increased in past few years. Moreover, a linear time trend forecast suggests that by 2030, around 51% of the world’s population would be affected by obesity. Owing to increase in health disorders due to overweight and obesity, consumers have started adopting various weight loss and weight management diets, including better-for-you food & beverages and weight loss supplements. As a result of this increased consumption of weight loss and weight management products, the market is expected to witness increase in revenue during the forecast period.
However, low-calorie sweeteners are used as ingredients in most of the low-calorie foods and beverages. The excessive use of most of the sweeteners available in the market causes serious health problems such as bladder cancer and brain tumors. These negative effects are anticipated to hinder the weight loss and weight management diet market growth in the near future.
The weight loss and weight management diet industry is segmented into product type, sales channel, and region. By product type, the market is differentiated into better for you, meal replacement, weight loss supplement, green tea, and low-calorie sweeteners. The better-for-you meal is subsegmented into low-salt products, low-carb/sugar products, and low-fat products. The low-calorie sweeteners segment is further segregated into stevia, aspartame, sucralose, saccharin, and others. By sales channel, the weight loss and weight management diet market is fragmented into hypermarket/supermarket, specialty stores, pharmacies, online channels, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global coronavirus pandemic has created a number of challenges for exporters in the developing and developed countries. The challenges witnessed by the exporters of weight loss and weight management diet products are likely to remain for the foreseeable future, as different states and governments around the world attempt to tackle COVID-19 with various measures. Supply chain disruption, lack of availability of worker, complete shutdown of gyms, clubs, and other fitness activities has negatively affected the weight loss and weight management diet market.
Key Findings Of The Study
- By region, North America dominates in terms of weight loss and weight management diet market share, and is expected to continue this trend during the forecast period.
- On the basis of food type, the better-for-you segment led in terms of market share, in 2019; however, low-calorie sweetener segment is expected to gain high market share in the upcoming years.
- Depending on sales channel, the hypermarket/supermarket segment accounted for about two-third share of the eight loss and weight management diet market in 2019, however, the online channels segment is poised to grow at highest CAGR during the forecast period.
- Asia-Pacific is anticipated to grow with robust CAGR of 8.6% during the weight loss and weight management diet market forecast period.
Some of the key players analyzed in weight loss and weight management diet market analysis include Cargill Incorporated, Pepsico, Inc., Kellogg Company, General Mills Incorporation, Nutrisystem, Inc., Abbott Laboratories Inc., Weight Watchers, Inc., Kraft Foods, Inc., Ingredion, and Medifast, Inc.